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Multiple Choice, Question 29 The following information is available for the Rollin' Baby Company which produces...
The following information is available for the Rollin' Baby Company which produces two types of strollers,...
The following information is available for the Rollin' Baby Company which produces two types of strollers, standard and deluxe. Standard Deluxe Total Sales volume (units) 4,000 3,500 7,500 Revenue $96,000 $147,000 $243,000 Variable Costs Direct materials 12,000 17,500 29,500 Direct labor 16,000 24,000 40,000 Marketing & Sales 20,000 28,500 48,500 Contribution Margin $48,000 $77,000 $125,000 Fixed Costs Manufacturing $24,000 Marketing & Sales $18,000 Administration $ 16,000 Profit Before Tax $67,000 If the company allocates their fixed costs based on direct...
Multiple Choice, Question 40 The following information is available for the Rollin' Baby Company which produces...
Multiple Choice, Question 40 The following information is available for the Rollin' Baby Company which produces two types of strollers, standard and deluxe. Standard 4,000 $96,000 Deluxe 3,500 $147,000 Total 7,500 $243,000 Sales volume (units) Revenue Variable Costs Direct materials Direct labor Marketing & Sales Contribution Margin Fixed Costs Manufacturing Marketing & Sales Administration Profit Before Tax 12,000 16,000 20,000 $48,000 17,500 29,500 24,000 40,000 28,500 48,500 $77,000 $125,000 $24,000 $18,000 $16,000 $67,000 If the company shifts its product mix...
The following information is available for the Downtown Furniture Company which produces two types of tables....
The following information is available for the Downtown Furniture Company which produces two types of tables. Oak 500 $80,000 Cherry 300 $78,000 Total 800 $ 158,000 Sales volume (units) Revenue Variable Costs Direct materials Direct labor Contribution Margin Fixed Costs Manufacturing Administrative Profit Before Tax $5,000 $7,000 $12,000 $17,000 $22,000 $39,000 $58,000 $49,000 $107,000 $25,500 $31,000 $50,500 Management feels that the fixed manufacturing costs should be allocated based on direct labor costs and fixed administrative costs should be allocated based...
NSU Manufacturing, Inc. produces textbooks and is preparing budgets for next year. The following information relates to...
NSU Manufacturing, Inc. produces textbooks and is preparing budgets for next year. The following information relates to next year’s activities: Expected sales for next year are 195,000 textbooks at an estimated production cost of $32.00 per textbook and an estimated selling price of $40.00 per textbook. Beginning inventories: Raw materials: Paper 25,000 yards @ $2.99 per yard Plastic 8,000 pounds @ $5.49 per pound Work-in-process 928 textbooks @ $28.93 per textbook Finished goods 2,500 textbooks @ $32.00 per textbook Desired...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials $ 47,000 $ 43,000 Work in process 9,000 19,200 Finished goods 68,000 34,800 Activities and information for May Raw materials purchases (paid with cash) 175,000 Factory payroll (paid with cash) 150,000 Factory overhead Indirect materials 16,000 Indirect labor 34,500 Other overhead costs 90,000 Sales (received in cash) 1,100,000 Predetermined overhead rate based on...
The following monthly segmented income statement is for Condiment Company, which has three separate product lines...
The following monthly segmented income statement is for Condiment Company, which has three separate product lines (A, B, and C). A B C Total Sales revenue $37,500 $50,000 $12,500 $100,000 Variable costs $16,000 $27,500 $5,000 $48,500 Contribution margin $21,500 $22,500 $7,500 $51,500 Direct fixed costs $19,500 $16,000 $3,500 $39,000 Allocated fixed costs $3,750 $5,000 $1,250 $10,000 Profit (loss) $(1,750) $1,500 $2,750 $2,500 Management is concerned about the losses associated with product line A and is considering dropping this product line....
The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system April 3e May 31 Inventories Raw materials Work in process Finished goods $47,000 11,000 67,000 $ 60,000 22,900 43,600 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 218,000 361,00e Indirect materials Indirect labor Other overhead costs 23,000 88,000 128,000 1,480,000 Sales (received in cash) Predetermined overhead rate based on direct...
Required information [The following information applies to the questions displayed below.) Antuan Company set the following...
Required information [The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Direct materials (3.0 Ibs. @ $5.00 per Ib.) Direct labor (1.9 hrs. @ $11.00 per hr.) Overhead (1.9 hrs. @ $18.50 per hr.) Total standard cost $15.00 20.90 35.15 $71.05 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory's capacity of 20,000 units per month....
The following The following information is available for Lock-Tite Company, which produces special-order security products and...
The following The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials $33,000 $ 54,000 Work in process 9,400 18, 200 Finished goods 53,000 33, 400 Activities and information for May Raw materials purchases (paid with cash) 176,000 Factory payroll (paid with cash) 150,000 Factory overhead Indirect materials 7,000 Indirect labor 34,500 Other overhead costs 117,500 Sales (received in cash) 1,400,000 Predetermined overhead...
Exercise 16-29 Profit Variance Analysis (LO 16-4) (PLEASE INCLUDE STEP BY STEP CALCULATIONS) Osage, Inc., manufactures and sells lamps. The company produces only when it receives orders and, therefore...
Exercise 16-29 Profit Variance Analysis (LO 16-4)
(PLEASE INCLUDE STEP BY STEP CALCULATIONS)
Osage, Inc., manufactures and sells lamps. The company produces
only when it receives orders and, therefore, has no inventories.
The following information is available for the current month
Actual (based on actual orders for 464,000
units)
Master Budget (based on budgeted orders for 508,000
units)
Sales revenue
$
4,982,000
$
5,080,000
Less
Variable costs
Materials
1,510,000
1,524,000
Direct labor
290,000
355,600
Variable overhead
675,800
660,400
Variable marketing...
The following information is available for the Rollin' Baby Company which produces two types of strollers, standard and deluxe. Standard Deluxe Total Sales volume (units) 4,000 3,500 7,500 Revenue $96,000 $147,000 $243,000 Variable Costs Direct materials 12,000 17,500 29,500 Direct labor 16,000 24,000 40,000 Marketing & Sales 20,000 28,500 48,500 Contribution Margin $48,000 $77,000 $125,000 Fixed Costs Manufacturing $24,000 Marketing & Sales $18,000 Administration $ 16,000 Profit Before Tax $67,000 If the company allocates their fixed costs based on direct...
Multiple Choice, Question 40 The following information is available for the Rollin' Baby Company which produces two types of strollers, standard and deluxe. Standard 4,000 $96,000 Deluxe 3,500 $147,000 Total 7,500 $243,000 Sales volume (units) Revenue Variable Costs Direct materials Direct labor Marketing & Sales Contribution Margin Fixed Costs Manufacturing Marketing & Sales Administration Profit Before Tax 12,000 16,000 20,000 $48,000 17,500 29,500 24,000 40,000 28,500 48,500 $77,000 $125,000 $24,000 $18,000 $16,000 $67,000 If the company shifts its product mix...
The following information is available for the Downtown Furniture Company which produces two types of tables. Oak 500 $80,000 Cherry 300 $78,000 Total 800 $ 158,000 Sales volume (units) Revenue Variable Costs Direct materials Direct labor Contribution Margin Fixed Costs Manufacturing Administrative Profit Before Tax $5,000 $7,000 $12,000 $17,000 $22,000 $39,000 $58,000 $49,000 $107,000 $25,500 $31,000 $50,500 Management feels that the fixed manufacturing costs should be allocated based on direct labor costs and fixed administrative costs should be allocated based...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system April 3e May 31 Inventories Raw materials Work in process Finished goods $47,000 11,000 67,000 $ 60,000 22,900 43,600 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 218,000 361,00e Indirect materials Indirect labor Other overhead costs 23,000 88,000 128,000 1,480,000 Sales (received in cash) Predetermined overhead rate based on direct...
Required information [The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Direct materials (3.0 Ibs. @ $5.00 per Ib.) Direct labor (1.9 hrs. @ $11.00 per hr.) Overhead (1.9 hrs. @ $18.50 per hr.) Total standard cost $15.00 20.90 35.15 $71.05 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory's capacity of 20,000 units per month....
The following The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials $33,000 $ 54,000 Work in process 9,400 18, 200 Finished goods 53,000 33, 400 Activities and information for May Raw materials purchases (paid with cash) 176,000 Factory payroll (paid with cash) 150,000 Factory overhead Indirect materials 7,000 Indirect labor 34,500 Other overhead costs 117,500 Sales (received in cash) 1,400,000 Predetermined overhead...
Exercise 16-29 Profit Variance Analysis (LO 16-4)
(PLEASE INCLUDE STEP BY STEP CALCULATIONS)
Osage, Inc., manufactures and sells lamps. The company produces
only when it receives orders and, therefore, has no inventories.
The following information is available for the current month
Actual (based on actual orders for 464,000
units)
Master Budget (based on budgeted orders for 508,000
units)
Sales revenue
$
4,982,000
$
5,080,000
Less
Variable costs
Materials
1,510,000
1,524,000
Direct labor
290,000
355,600
Variable overhead
675,800
660,400
Variable marketing...
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